http://www.property24.com/Property24/Hub/ShowSectionArticles_Full.aspx?articleid=5846
Ok, this is some bull$#!t. Doesn't make sense at all. I fall within this income bracket (26 yrs old), and I've been seriously considering applying for a homeloan myself (Never have), but this is discouraging.
Quote:
"Clarke explained his statement by referring to a specific case where a loan of R290k was applied for. If repaying at prime rate, this buyer would pay R3 500 per month to service the home loan. However, in this case, the bank charged him 3% above prime, which increased the amount to R4,144 – almost R650 more"
Rip offs!
Ok, this is some bull$#!t. Doesn't make sense at all. I fall within this income bracket (26 yrs old), and I've been seriously considering applying for a homeloan myself (Never have), but this is discouraging.
Quote:
"Clarke explained his statement by referring to a specific case where a loan of R290k was applied for. If repaying at prime rate, this buyer would pay R3 500 per month to service the home loan. However, in this case, the bank charged him 3% above prime, which increased the amount to R4,144 – almost R650 more"
Rip offs!
